After 15 Months, Refco Saga Winds Down

Law360 (January 1, 2007, 12:00 AM EST) -- A few months from now, the dramatic story of Refco Inc.’s rise and fall will have faded from the headlines, as the broker quietly winds up its Chapter 11 case. But the case will leave its mark as one of the most contentious and complex bankruptcy cases in history.

Refco officially exited bankruptcy on Dec. 26, 15 months after the company discovered that then-CEO Philip Bennett had been camouflaging a $430 million debt.

The broker now faces months of divesting itself of subsidiaries and distributing $3.65...

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